Punch lines are the need for advertising the product as they are necessary for a product to be unique and be different. For example: â€œThe complete manâ€ which makes us remember the company Raymonds. Punch lines are important to make the customer remember about the product identity. It helps to recall a product easily. But it cannot rule the advertisement as ultimately the customer remembers quality and cost. Customer only sees whether he is getting the satisfactory service or not. Also after service of a product offered by company is important if the company is good, gets reputation and rules the market. Only attractive punchlines will not help. For example, if I say â€œPaanch matalab chota cokeâ€, it will suddenly remind you the ad of coca cola (even though itâ€™s not on air now). So, this way punch line increases the recall value of the ad but if your ad or positioning of the product is not perfect then you canâ€™t expect your advt programme to be successful just on the basis of punchlines. It is very difficult to find out the right Punchline. Marketers have to select right words to form that sentences which can correctly express the positioning strategy of the brand. A bad Punchline can kill a good â€˜adâ€™. If the Punchline strikes customers as attractive due to repeated exposure it â€˜changesâ€™ the mindset of the customer creating new set of beliefs. The Punchline represents the values of the company, benefits, attributes, features, quality, cost, special technology. If we really want to appreciate the value of Punchlines, then imagine an advertisement without any Punchline. It looks like a dumb. So basically the Punchline is the voice of the brand, which primarily gives out the minimum momentum, thrust to push the brand in the mind of the customer. A punch line has to have an element of surprise in it. Humour is also an essential aspect of advertising because a dose of laughter instantly connects the masses with a campaign. The main objective of advertising is to appeal to the consumer and a punch line should always be linked with the product. Also, there has to be something new, something which the people can connect with instantly. The best punch line strikes a chord with people and creates magic. But, certain good companies such as â€œColgateâ€ donâ€™t have got a punch line but still it is ruling the market for years. Basically, the work of punch line is to own a space in the minds of customer and create some easy recall of the ad. But it takes a lot of imagination to come up with something as simple yet as effective as gale ki khichkhich from the Vicks campaign. Such was the power of this simple line that now, irritation in throat is called khichkhich by a majority of people. And it instantly connects the feeling to Vicks. This linking of products, or brand recall, is what makes a punch line successful. Products come and go, but punch lines always stay.
Luxury brands growth in India Essay Lack of quality luxury space, environment and dearth of high street or super premium malls is a prime reason for restricted presence of luxury brands in India, thus there is a dire need for modernized and dedicated luxury retail areas in protected vicinities such as airports, according to a recent ASSOCHAM-KPMG joint study. Setting up stores in high streets affects luxury retailers profitability due to sky-rocketing rental costs, moreover, high streets are very cluttered, crowded and are unsuitable due to the absence of exclusive ambience that luxury retail demands, according to a study on Challenges highlighted by luxury retailers in India, jointly conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and KPMG. The Indian luxury market grew at a healthy rate of 30% to reach $8. 5 billion in 2013 and is likely to continue growing at a healthy pace of about 20%, and reach $14 billion by 2016 owing to rising number of wealthy people, growing middle class, affluent young consumers and other related factors. Though, India currently enjoys just one-two per cent share in the global luxury market but it is the fifth most attractive market for international retailers. Fragmented and diversified consumer base in India is another significant challenge being faced by luxury retailers in India as high net worth individual ( HNI) consumers are not easy to reach, noted the ASSOCHAM-KPMG study. Luxury brands need to strategically design their growth plans to tap demand across three categories of HNIs, namely the inheritors (traditionally wealthy) who are habitual spenders; the professional elite who are discerning spenders; a large segment of business giants (entrepreneurs, owners of small and medium enterprises) who have the money but lack appreciation for fine luxury goods because of no prior exposure to such products, it added. There is a need for luxury brands to focus on expansion in the type and nature of products being offered and increasingly adopt innovative marketing plans to tap rapidly evolving consumer behavioral trends, said Mr D. S. Rawat, secretary general of ASSOCHAM while releasing findings of the study. Luxury retailers need to plan out of the box marketing strategies and come up with products that are tailor-made to suit the whims and fancies of varied Indian customers, said Rawat. Luxury is no longer a status symbol but is now a lifestyle and the global brands need to fast evolve and learn ways to adapt within the local environment so that they can get accustomed to nuances of the market by understanding the cultural identity of Indian consumers. Lack of policy support is another prominent challenge being faced by luxury brands in India, noted the ASSOCHAM-KPMG study. Despite strong demand momentum, Indian luxury market has not been viewed as policies and regulations friendly for the luxury retailers, the report said. Import duties (20-150 per cent) are relatively higher and this is considered as a key apprehension factor among the international players, who may resist them to frame aggressive growth plans for India, noted the study. Clauses such as 100% foreign direct investment (FDI) in both single and multi-brand retail requires 30% of local sourcing, announced in the liberalized FDI policy in luxury retail in November 2013 could be difficult for the international luxury players to comply with. The duties are manifold ranging from customs duty, counter veiling duty (CVD), special additional tax, education cess adding to the overall cost, said Rawat. Besides, luxury retail is also affected by the system of maximum retail price as it applies to custom duties and to cascading after the custom taxes, thereby heavily penalizing foreign brands pushing their overall entrance costs by up to 40%. Lack of trained staff is another well-acknowledged challenge facing Indian luxury retail industry which requires greater discretion and knowledge on the part of a salesperson, further highlighted the ASSOCHAM-KPMG study. Shortage of skilled labour for the industry is a major cause of concern as it is difficult to make the local workforce understand the heritage and legacy of the brand along with the specific finishes involved in the manufacturing process, said Rawat. In the absence of these requisite skill sets, brands have no option but to manufacture in their country of origin; lack of skilled workers can also be attributed to the sales function where presentation and interpersonal skills form an integral element for the business. Growing prevalence of counterfeit luxury goods and a grey market are also hampering the growth of the industry, noted the ASSOCHAM-KPMG study. Most of these products belong to segments such as apparel, perfumes and accessories, which are usually lower ticket items and can be easily placed in grey channels. Luxury players in India continue to face supply side issues such as legal loopholes pertaining tointellectual property rights, inadequate means to monitor various emerging channels, and a growing number of online portals, among other factors, the study added. A collective, industry wide effort is likely to have a far-reaching impact in dealing with the issue as seen in other industries such as films and music. Awareness and collaboration also needs to be built with authorities, who have experienced major revenue lossesÂ due to loss of taxes and duties, on how to deal with counterfeits, further suggested the study to counter the growing menace of counterfeit luxury products. Corrective measures need to be taken to banish the growth of grey luxury goods market in India which results in sizeable revenue losses for firms, said Rawat, and added that a strong legal structure combined with effective framework of intellectual property protection would help prevent dilution of brand image and reduced consumer trust. Measures in form of effective intellectual property enforcement, plugging loopholes in the legal and judicial structure and higher conviction rates can help curb the growth of fake luxury products, said Rawat. Information collected through secondary sources such as internet and local newspapersâ€¦